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The globalization of business, ongoing changes in technology, increased attention of shareholders and stakeholders and the continuing demands of the Audit Committee and senior management require a dynamic framework for managing today's internal audit department.

This session, designed by a past Chief Audit Executive with significant exposure to a multitude of industries and internal audit frameworks, explores the key competencies and responsibilities of today's internal audit management and methods for meeting the requirements of the internal audit profession. We will also discuss some of the greatest challenges of the role and how to address those challenges.

Learning Objectives

  • Explore the role of today's internal audit leadership.
  • Recognize the role of internal audit in corporate governance.
  • Explore how to synergize the internal audit processes with other quality assurance groups.
  • Discover the keys to building effective relationships with management and the audit committee.
  • Discover the keys to staffing and training the audit group.
  • Identify how to develop a resource gap analysis for internal audit.
Last updated/reviewed: November 26, 2019

Included In Certifications

This course is included in the following Certification Programs:

19 CoursesInternal Controls Certification

  1. Management Internal Control Essentials
  2. COSO 2013 Overview
  3. Internal Audit Standards Overview
  4. Internal Audit Standards - Managing Internal Audit Work
  5. Internal Audit Standards - Executing the Audit Engagement
  6. Identifying and Implementing the Proper Balance of Internal Controls
  7. Documentation Methods For Internal Control Processes
  8. Information Technology (IT) Risks in Emerging Business Environments
  9. Foundations for a Strong Internal Audit Department
  10. Internal Audit: Keys to Managing an Effective Function
  11. Internal Audit Effective Relations with the Audit Committee
  12. Understanding Risk-Based Auditing
  13. Risk Based Auditing – Establishing a Methodology
  14. Risk Based Auditing – Applying the Methodology
  15. Segregation of Duties for Core Business Processes
  16. Professional Skepticism - Keys to Maintaining
  17. Whistleblower Hotlines - Effective Management
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

19 CoursesINTERNAL CONTROLS CERTIFICATION - THE VIRTUAL LIVE PROGRAM

  1. COSO 2013 Overview
  2. Management Internal Control Essentials
  3. Identifying and Implementing the Proper Balance of Internal Controls
  4. Documentation Methods For Internal Control Processes
  5. Segregation of Duties for Core Business Processes
  6. Professional Skepticism - Keys to Maintaining
  7. Whistleblower Hotlines - Effective Management
  8. Understanding Risk-Based Auditing
  9. Internal Audit Effective Relations with the Audit Committee
  10. Internal Audit Standards Overview
  11. Internal Audit Standards - Managing Internal Audit Work
  12. Internal Audit Standards - Executing the Audit Engagement
  13. Information Technology (IT) Risks in Emerging Business Environments
  14. Foundations for a Strong Internal Audit Department
  15. Internal Audit: Keys to Managing an Effective Function
  16. Risk Based Auditing – Establishing a Methodology
  17. Risk Based Auditing – Applying the Methodology
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

55 Reviews (219 ratings)Reviews

4
Anonymous Author
Lynn's slides are always very helpful with understanding the material & everything is explained thoroughly. The only downside to this is that, in the beginning, Lynn say this is part three of a series of classes, however 1 & 2 are not specifically noted (neither was this in being the 3rd). It would be nice to definitively see 1, 2, & 3, and how they relate with each other.
4
Anonymous Author
The course provides a great overview for an effective audit function. The topics covered are helpful even to individuals who do not perform an internal audit function. The speaker is very clear on her lecture and the materials used well summarized the key points.
5
Member's Profile
This course was a refresher. It is very informative and covers all the key components of the Internal Audit function at a very detailed level. I think this course is crucial for people with 1-4 years of experience, but overall everyone needs to take this course.
5
Anonymous Author
The presenter did a great job providing an overview of the Internal Audit Function as well as key examples on how to show management the benefits of IA. I would recommend taking the course if you are new to the IA world.
4
Anonymous Author
This is a fairly comprehensive discussion of the role of internal audit in today's environment. The seasoned instructor has again used her broad professional experience to enhance the presentation.
4
Anonymous Author
I like that the information in this course is very practical. It will be nice if the videos can be broken down into shorter modules like the other courses taught by this instructor.
5
Anonymous Author
This instructor is very good at presenting information in a way that is easy to understand and I also learned new information that I did not know before. This course was well done.
5
Anonymous Author
Another awesome course from Lynn. It is very intense but this information you would not be able to find in any book. A lot of real life examples and references. Thank you!
5
Member's Profile
I am not at Managing function, nevertheless, it is interesting just for a member of auditor to understand what are 'keys' to manage an effective internal audit function.
5
Member's Profile
Very knowledgeable on the subject matter. I was surprised by how much I wasn't aware of. I think anyone in external or internal audit would find this content useful.
4
Anonymous Author
The speaker discusses essential relationships that the Internal Audit must keep and maintain within the organization, to ensure holistic and better audit results.
4
Member's Profile
Good webinar - hit on several areas that I think about within my organization and aligned with my goals for enhancement of the IA function.
5
Anonymous Author
keys to managing an effective internal audit function is another great IA related seminar. I appreciate the content and the organization.
5
Member's Profile
Lynn hits another one out of the park, with careful explanations of the role of IA and the CAE, as well as the interaction with the AC.
5
Anonymous Author
This course teaches the importance of managing an effective internal audit team and how to effectively build relationships with the AC.
5
Anonymous Author
The course is very informative and detailed regarding on the importance of leadership in Internal Audit Function.
5
Anonymous Author
Well organized. Interjected good examples. All internal audit staff, auditees and CFO should take this course.
Member's Profile
Full of good questions and challenges for the CAE, especially new ones like myself. Highly recommended.
5
Anonymous Author
I enjoyed this course. A lot of valuable information, all broken down in sections. Organized well.
5
Anonymous Author
Excellent overview for the new auditor, organization management and new audit committee members.
4
Member's Profile
This course gives a very good perspective of the broad requirements of managing an IA department.
5
Anonymous Author
I love the discussion points within this presentation. More discussions like this are needed.
4
Member's Profile
Great information on how to build effective relationships with Management and the AC.
5
Anonymous Author
Provides practical steps for IA management to take in leading/supporting the function.
5
Anonymous Author
This course provided great insight into the audit function and the different roles.
5
Member's Profile
It is clear that the presenter (Ms. Fountain) has great experiences to share.
4
Anonymous Author
Well organized and presented. Easy to understand despite not working in IA.
5
Member's Profile
Great information! Easy to understand and overall meaningful content....
3
Anonymous Author
This is a great course that offers for new managers of an IA department.
5
Anonymous Author
The instructor was highly knowledgeable and experienced in this arena.
5
Anonymous Author
Course fully met objectives and was. very informative and educational.
5
Anonymous Author
This course helped me strengthen my understanding of IA fundamentals.
4
Member's Profile
The instructor is extremely well-versed in all aspects of this topic
5
Member's Profile
Requires understanding of the internal audit function...good course
5
Member's Profile
Well explained and carefully designed presentation. Well done!!!
4
Member's Profile
Great review and refresher on the Internal Audit Function.
5
Member's Profile
interesting subject, well distributed , good instructor
5
Member's Profile
Very comprehensive and useful perspective on key issues
5
Member's Profile
Very helpful end to end coverage of topic.
3
Anonymous Author
Interesting primer for a non-IA person.
5
Member's Profile
Very practical and well presented.
5
Member's Profile
Good refresher of basic concepts
4
Anonymous Author
a bit basic, but good review.
4
Anonymous Author
It was a very good course
4
Member's Profile
Great Presentation
5
Member's Profile
Met objectives.
4
Anonymous Author
Good review!!
5
Member's Profile
Great course
4
Anonymous Author
Good course
5
Anonymous Author
Thanks
5
Member's Profile
Great!
4
Member's Profile
great!
4
Member's Profile
Good
3
Anonymous Author
1
Anonymous Author
4

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Roles and Relationships
  46:38Role of Today's IA Leadership
  30:28Building Effective Relationships with MGT and Audit Committee
Essentials of Staffing and Training
  18:05Keys to Staffing and Training IA
Working Together and Conclusion
  10:07The Synergy of IA with Other Processes and Close
Continuous Play
  1:54:53Keys to Managing an Effective Internal Audit Function
SUPPORTING MATERIALS
  PDFSlides Keys to managing an effective Internal Audit Function
  PDFKeys to managing an effective Internal Audit Function Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM